Alabama surplus funds recovery

Ala. Code § 40-10-28 governs tax-sale excess; §§ 40-10-120 and 40-10-122 concern redemption, with §§ 40-10-82 and 40-10-83 when judicial redemption applies and § 40-10-197 for applicable tax-lien certificate foreclosure proceedings. Claims based on proper redemption may be presented during the first three years after sale.

Claims based on proper redemption may be presented during the first three years after sale. Qualifying claims remain available after year three until 10 years after a 2016 or later sale, 11 years after a 2015 sale, or 12 years after a 2014 sale. After that outer limit, excess becomes county property; transfer to the county general fund after three years does not end qualifying recovery.

After that outer limit, excess becomes county property; transfer to the county general fund after three years does not end qualifying recovery. Redemption interest is 8% for redemptions from tax sales on or after January 1, 2020 under Ala. Dept. of Revenue Rule 810-4-6-.02; redemption and the excess claim have separate rules.

Ala. Code Title 35, Chapter 10 governs mortgage foreclosure; §§ 35-10-11 to 35-10-16 govern power of sale for mortgages executed after December 31, 1988. Alabama case law governs entitlement to foreclosure surplus, and there is no separate statutory foreclosure-surplus claim period.

Ala. Code Title 35, Chapter 10 governs mortgage foreclosure; §§ 35-10-11 to 35-10-16 govern power of sale for mortgages executed after December 31, 1988. Alabama case law governs entitlement to foreclosure surplus, and there is no separate statutory foreclosure-surplus claim period. Under the relevant contract limitations statutes, Ala. Code §§ 6-2-34 and 6-2-33, an unsealed-mortgage contractual claim generally has a six-year period and a sealed-instrument claim may have a ten-year period.

Under the relevant contract limitations statutes, Ala. Code §§ 6-2-34 and 6-2-33, an unsealed-mortgage contractual claim generally has a six-year period and a sealed-instrument claim may have a ten-year period. The foreclosure property-redemption deadline is separate.

Ala. Code §§ 35-12-70 to 35-12-96 govern unclaimed property, with claims principally under §§ 35-12-83 to 35-12-85. The statute sets no fixed owner-claim deadline for property held by the Alabama Treasurer.

Ala. Code §§ 35-12-70 to 35-12-96 govern unclaimed property, with claims principally under §§ 35-12-83 to 35-12-85. The statute sets no fixed owner-claim deadline for property held by the Alabama Treasurer. The Treasurer must decide a filed claim within 120 days and pay an allowed claim within 30 days.

The Treasurer must decide a filed claim within 120 days and pay an allowed claim within 30 days. A judicial challenge to denial must begin within 90 days after the Treasurer's decision.

Redemption interest is 8% for redemptions from tax sales on or after January 1, 2020 under Ala. Dept. of Revenue Rule 810-4-6-.02; redemption and the excess claim have separate rules. The foreclosure property-redemption deadline is separate. A judicial challenge to denial must begin within 90 days after the Treasurer's decision.